Crypto News: New Hampshire Awaits Bitcoin Bond Buyer to Launch First State-Backed Digital Asset Initiative

New Hampshire has taken its first formal step toward launching a $100 million bitcoin bond, marking what could become the first state-facilitated digital asset bond in the United States. The state is now awaiting a private-sector partner to finalize the issuance and move the pioneering project forward.What to KnowThe New Hampshire Business Finance Authority (NHBFA) authorized $100 million in bitcoin bond capacity.The bond would be privately backed and managed, not funded or guaranteed by the state.Once a partner is selected, the New Hampshire Executive Council must approve the arrangement.The project could activate the nation’s first state-supported bitcoin bond.Crypto assets collected from fees would help create a crypto-backed economic development fund.New Hampshire Takes First Step Toward $100 Million Bitcoin BondThe New Hampshire Business Finance Authority this week authorized “$100,000,000 bonds for a project to acquire and hold digital currency,” according to its agenda, setting the groundwork for the state’s first-ever bitcoin bond initiative.While the NHBFA is a state-created agency, the bond itself would not carry state backing. Instead, the financing would be administered and collateralized by a private-sector partner, with the state serving as a conduit to connect capital and oversight.The selected partner has not yet been announced.If a final agreement is reached, the proposal will go before the New Hampshire Executive Council, which must vote to approve the issuance before the project can launch.If approved, this would become the first digital-asset bond facilitated by a state agency anywhere in the U.S.Agency Says Taxpayers Aren’t at Risk“We’re proud to help develop new tools that allow companies in the digital-asset ecosystem to access capital safely and effectively — while ensuring no taxpayer funds or state guarantees are at risk,” said James Key-Wallace, executive director of the NHBFA.The NHBFA is self-funded, meaning no public money or state credit supports its operations. Fees and revenue generated from bond programs go back to the agency to support economic development.Key-Wallace told CoinDesk the bitcoin bond could help launch the nation’s first crypto-backed economic development fund, using incoming digital asset fees to support new initiatives.Wave, Rosemawr and BitGo Involved in StructuringInvestment adviser Wave Digital Assets and Rosemawr Management are working with the state to structure the bond. Custody of the bitcoin collateral would be handled by BitGo, one of the longest-standing institutional crypto custodians in the U.S.The deal would represent a new model for public-private collaboration involving digital assets — one that could influence other states exploring bitcoin reserves or blockchain-linked financing.State Lawmaker: Bitcoin Bond Is a Template for the FutureState Representative Keith Ammon, a leading crypto-policy advocate in New Hampshire, said the initiative is intended to serve as a template for future bitcoin-backed financial tools.“Bitcoin can partially insulate our state's runaway inflation,” Ammon told CoinDesk. “This is like training wheels to get to that point, protecting our state's finances from future devaluation of the dollar.”Ammon said the proposed two-year bond hinges on the long-term appreciation of bitcoin. While BTC has surged over much of the past two years, it is down roughly 6% over the past 12 months after a sharp correction beginning last month.New Hampshire’s Growing Crypto LeadershipNew Hampshire has become one of the most proactive U.S. states in crypto policy. Earlier this year, it became the first state to establish a formal crypto reserve, moving far faster than the federal government, which is still exploring early-stage digital asset frameworks.The bitcoin bond initiative further cements New Hampshire’s role as an early mover in state-level blockchain adoption.If the Executive Council gives final approval and a private-sector buyer steps in, New Hampshire could soon become the first U.S. state to launch a digital-asset bond — and potentially a model for others to follow.